New research from EDM Group reveals that nearly one in three (30%) senior executives are ‘concerned’ or ‘very concerned’ about the ability of companies in their sector to manage and store the information they receive. Given this, 12% expect the number and size of fines for poor management of information levied on companies in their sector over the next five years to increase dramatically over the next five years, with 44.5% anticipating a slight rise here. Only 2.8% expect to see a fall. However, the good news is that the survey suggests that senior executives understand that this is a major challenge and over the next three years 20.4% anticipate that companies in their sector will improve dramatically in this area, while 60.2% anticipate a slight improvement. The corresponding figures for five years are 22.5% and 60.4% respectively. Sam Ferguson, CEO at EDM Group said:” It is alarming to see how many senior executives think that companies in their sectors are poor at managing their information. Distribution, customer service and regulatory environments are becoming more demanding, and companies need to ensure maximum efficiency in how they manage their information in order to address today’s challenges. The good news is that our research suggests that many have acknowledged this and are proactively addressing it.” The research reveals that 17.4% of senior executives believe that the correlation between information storage and management and key performance indicators for companies in their sector will increase dramatically over the next five years, with 45% anticipating a slight increase here. Only 1% believes there will be a fall in correlation between the two. Given this, it is perhaps not surprising that 22.5% of senior executives interviewed expect their sectors to dramatically increase their expenditure on their information management systems, with 56% anticipating a slight rise.
Brian Sims BA (Hons) Hon FSyI, Editor, Risk UK (Pro-Activ Publications) Beginning his career in professional journalism at The Builder Group in March 1992, Brian was appointed Editor of Security Management Today in November 2000 having spent eight years in engineering journalism across two titles: Building Services Journal and Light & Lighting. In 2005, Brian received the BSIA Chairman’s Award for Promoting The Security Industry and, a year later, the Skills for Security Special Award for an Outstanding Contribution to the Security Business Sector. In 2008, Brian was The Security Institute’s nomination for the Association of Security Consultants’ highly prestigious Imbert Prize and, in 2013, was a nominated finalist for the Institute's George van Schalkwyk Award. An Honorary Fellow of The Security Institute, Brian serves as a Judge for the BSIA’s Security Personnel of the Year Awards and the Securitas Good Customer Award. Between 2008 and 2014, Brian pioneered the use of digital media across the security sector, including webinars and Audio Shows. Brian’s actively involved in 50-plus security groups on LinkedIn and hosts the popular Risk UK Twitter site. Brian is a frequent speaker on the conference circuit. He has organised and chaired conference programmes for both IFSEC International and ASIS International and has been published in the national media. Brian was appointed Editor of Risk UK at Pro-Activ Publications in July 2014 and as Editor of The Paper (Pro-Activ Publications' dedicated business newspaper for security professionals) in September 2015. Brian was appointed Editor of Risk Xtra at Pro-Activ Publications in May 2018.